XML 108 R61.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting Information [Line Items]  
Segment Information Segment Information
The Company's reportable segments with foreign operations include Northern Powergrid, whose business is principally in the United Kingdom, and BHE Transmission, whose business includes operations in Canada. Intersegment eliminations and adjustments, including the allocation of goodwill, have been made. Information related to the Company's reportable segments is shown below (in millions):
 Three-Month Periods
Ended March 31,
 20242023
Operating revenue:
PacifiCorp$1,548 $1,484 
MidAmerican Funding843 920 
NV Energy908 999 
Northern Powergrid320 354 
BHE Pipeline Group1,128 1,173 
BHE Transmission198 205 
BHE Renewables347 393 
HomeServices866 875 
BHE and Other(1)
(47)(57)
Total operating revenue$6,111 $6,346 
Depreciation and amortization:
PacifiCorp$292 $279 
MidAmerican Funding227 234 
NV Energy139 152 
Northern Powergrid88 85 
BHE Pipeline Group139 172 
BHE Transmission58 61 
BHE Renewables67 66 
HomeServices12 13 
BHE and Other(1)
3 1 
Total depreciation and amortization$1,025 $1,063 
 Three-Month Periods
Ended March 31,
 20242023
Operating income:
PacifiCorp$155 $(167)
MidAmerican Funding76 88 
NV Energy61 57 
Northern Powergrid130 146 
BHE Pipeline Group664 584 
BHE Transmission85 88 
BHE Renewables(19)(69)
HomeServices(220)(45)
BHE and Other(1)
(37)(15)
Total operating income895 667 
Interest expense(691)(586)
Capitalized interest46 24 
Allowance for equity funds83 49 
Interest and dividend income116 86 
(Losses) gains on marketable securities, net
(123)699 
Other, net31 40 
Total income before income tax expense (benefit) and equity income (loss)
$357 $979 
Interest expense:
PacifiCorp$192 $124 
MidAmerican Funding108 84 
NV Energy73 63 
Northern Powergrid34 30 
BHE Pipeline Group40 39 
BHE Transmission37 37 
BHE Renewables35 45 
HomeServices4 4 
BHE and Other(1)
168 160 
Total interest expense$691 $586 
Earnings on common shares:
PacifiCorp$114 $(120)
MidAmerican Funding235 249 
NV Energy27 34 
Northern Powergrid86 11 
BHE Pipeline Group499 369 
BHE Transmission66 64 
BHE Renewables101 79 
HomeServices(159)(34)
BHE and Other(1)
(316)329 
Total earnings on common shares
$653 $981 
 As of
 March 31,December 31,
20242023
Assets:
PacifiCorp$36,020 $33,757 
MidAmerican Funding27,624 27,331 
NV Energy17,878 17,788 
Northern Powergrid9,610 9,596 
BHE Pipeline Group21,624 21,723 
BHE Transmission9,419 9,624 
BHE Renewables10,966 11,045 
HomeServices3,383 3,407 
BHE and Other(1)
3,711 3,569 
Total assets$140,235 $137,840 

(1)The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate principally to other corporate entities, corporate functions and intersegment eliminations.
 Three-Month Periods
Ended March 31,
 20242023
Operating revenue by country:
U.S.$5,614 $5,815 
United Kingdom313 333 
Canada177 177 
Australia5 21 
Other2 — 
Total operating revenue by country$6,111 $6,346 
Income before income tax expense (benefit) and equity income (loss) by country:
U.S.$211 $819 
United Kingdom102 113 
Canada49 43 
Australia(4)5 
Other(1)(1)
Total income before income tax expense (benefit) and equity income (loss) by country
$357 $979 

The following table shows the change in the carrying amount of goodwill by reportable segment for the three-month period ended March 31, 2024 (in millions):
BHE Pipeline Group
PacifiCorpMidAmerican FundingNV EnergyNorthern PowergridBHE TransmissionBHE RenewablesHomeServices
Total
 
December 31, 2023$1,129 $2,102 $2,369 $950 $1,814 $1,492 $95 $1,596 $11,547 
Foreign currency translation
— — — (6)— (33)— — (39)
March 31, 2024$1,129 $2,102 $2,369 $944 $1,814 $1,459 $95 $1,596 $11,508 
MEC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
MidAmerican Energy has identified two reportable segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and evaluating performance. Common operating costs, interest income, interest expense and income tax expense are allocated to each segment based on certain factors, which primarily relate to the nature of the cost.

The following tables provide information on a reportable segment basis (in millions):
Three-Month Periods
 Ended March 31,
20242023
Operating revenue:
Regulated electric$565 $591 
Regulated natural gas276 326 
Other2 3 
Total operating revenue$843 $920 
Operating income:
Regulated electric$31 $50 
Regulated natural gas45 38 
Total operating income76 88 
Interest expense(104)(80)
Allowance for borrowed funds6 4 
Allowance for equity funds16 11 
Other, net25 16 
Total income before income tax expense (benefit)$19 $39 

As of
March 31,
2024		December 31,
2023
Assets:
Regulated electric$23,635 $23,334 
Regulated natural gas1,899 1,900 
Other1 1 
Total assets$25,535 $25,235 
MidAmerican Funding, LLC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
MidAmerican Funding has identified two reportable segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and evaluating performance. Common operating costs, interest income, interest expense and income tax expense are allocated to each segment based on certain factors, which primarily relate to the nature of the cost. "Other" in the tables below consists of the financial results and assets of nonregulated operations, MHC and MidAmerican Funding.

The following tables provide information on a reportable segment basis (in millions):
Three-Month Periods
Ended March 31,
20242023
Operating revenue:
Regulated electric$565 $591 
Regulated natural gas276 326 
Other2 3 
Total operating revenue$843 $920 
Operating income:
Regulated electric$31 $50 
Regulated natural gas45 38 
Total operating income76 88 
Interest expense(108)(84)
Allowance for borrowed funds6 4 
Allowance for equity funds16 11 
Other, net25 28 
Total income before income tax expense (benefit)$15 $47 
As of
March 31,
2024		December 31,
2023
Assets(1):
Regulated electric$24,826 $24,525 
Regulated natural gas1,978 1,979 
Other6 5 
Total assets$26,810 $26,509 
(1)Assets by reportable segment reflect the assignment of goodwill to applicable reporting units.
SPPC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
Sierra Pacific has identified two reportable operating segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and regulated natural gas sales are established separately by the PUCN; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in evaluating performance.
The following tables provide information on a reportable segment basis (in millions):
Three-Month Periods
Ended March 31,
20242023
Operating revenue:
Regulated electric$260 $304 
Regulated natural gas86 96 
Total operating revenue$346 $400 
Operating income:
Regulated electric$12 $25 
Regulated natural gas7 10 
Total operating income19 35 
Interest expense(20)(16)
Allowance for borrowed funds1 2 
Allowance for equity funds4 2 
Interest and dividend income4 7 
Other, net3 1 
Total income before income tax expense (benefit)$11 $31 

As of
March 31,December 31,
20242023
Assets:
Regulated electric$4,239 $4,251 
Regulated natural gas461 454 
Other(1)
121 67 
Total assets$4,821 $4,772 

(1)    Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments.